to leave a comment.
▲ Apple (Apple, AAPL), Micron (Micron, MU), SanDisk (SanDisk, SNDK)/AI-generated image ©
As Apple (AAPL) shows a bullish outlook with the start of the second half of 2026, investors' attention is drawn to a global investment bank analyst who, while maintaining a neutral stance, has set a price target at the current price level.
According to crypto media outlet Finbold on July 2 (local time), UBS analyst David Vogt maintained his investment rating on Apple stock at 'Hold,' the same as before, in a report sent to clients the previous day. However, Vogt set Apple's 12-month price target at $296, a level nearly reached in pre-market trading on July 2.
This analysis, based on a UBS Evidence Lab survey of over 7,500 smartphone users in major markets, reflects mixed signals in the market. According to the survey results, iPhone purchase intent in the U.S. rose by approximately 300 basis points (bps) year-over-year to 20%, but demand in the Chinese market continued to slow, dropping by 100 basis points to around 15%. Conversely, purchase intent surged by 600 basis points in the UK and rose by 400 basis points in Germany, showing strong growth in the European market. The average age of currently used iPhones was found to have slightly decreased to 22.9 months but still remains near recent highs.
In the software and new product sectors, enthusiasm for Apple Intelligence, the artificial intelligence technology, was observed to have somewhat cooled. The percentage of respondents who said they would upgrade their devices sooner to use the AI features dropped by 500 basis points from the previous survey, reaching only 24%. Furthermore, analyst Vogt added that net interest in Apple's potentially upcoming foldable iPhone also slightly decreased compared to the previous survey.
Contrary to UBS's neutral assessment, the overall sentiment on Wall Street is somewhat more positive. According to TipRanks data, 30 Wall Street experts who analyzed Apple stock over the past three months have set an average 12-month price target of approximately $324.40, indicating a 'Moderate Buy' rating.
From a technical analysis perspective, Apple's stock has been struggling to regain bullish sentiment after closing June with a decline. In Thursday's pre-market trading, Apple's stock fluctuated around $295.29, with the daily Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) signaling a potential upward reversal. Analysts' optimistic forecasts also serve as a supporting factor for this short-term technical reversal trend.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.